This archive report was first published on 8 May 2020.
As the world grapples with the COVID-19 pandemic, several major companies have announced significant changes to their operations.
According to reports, tech giants Facebook and Google will allow most of their staff to continue working from home until the end of 2020. This decision comes after Facebook cancelled all events with more than 50 people until June 2021.
Meanwhile, ride-hailing firm Uber Inc. has released its Q1 2020 financials, revealing a net loss of $2.95 billion, a 190% increase year-over-year. Despite this, the company's revenue grew 14% to $3.54 billion.
On a more somber note, the United States Bureau of Labor Statistics reported a devastating 20.5 million decline in nonfarm payroll for the month of April, with unemployment soaring to 14.7%. The hospitality and entertainment sectors were particularly hard hit, with 23.1 million individuals left jobless.
Deutsche Lufthansa AG, commonly known as Lufthansa, has announced plans to resume flights in June with 160 aircraft to 106 destinations. The airline's Q1 2020 revenue fell by 18% to €6.4 billion, and it is reportedly seeking a €9 billion package to mitigate the impact of the virus.
